Lexis Nexis New Jersey Real Estate Brokerage Law
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Product description
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New Jersey Real Estate Brokerage Law covers essentials that attorneys and brokers must understand to navigate the complexities of the practice of real estate brokerage law. New in the 2025 Edition are these recent developments:
- The Consumer Protection Enhancement Act, effective August 1, 2024, provides protections for consumers and real estate professionals including the creation of designated agency in New Jersey, mandatory seller property condition disclosure statements, defined duties for buyers' agents and sellers' agents that must be in buyer agency and listing agreements, and mandatory notices for buyers at open houses
- New regulations governing brokers paying LLCs and other entities
- The effect of the National Association of REALTORS® (NAR) 2024 antitrust settlement on MLS's and cooperative compensation
- Flood notice requirement for tenants and buyers in commercial and residential transactions
- New Jersey Supreme Court opinion clarifying the classification of real estate salespersons as independent contractors as opposed to employees
- New Jersey Appellate Division 2024 decision holding that age-restricted communities of 55 and older cannot require owners to be 55 or older
Published in cooperation with New Jersey REALTORS®, the book covers procedural issues, such as licensing and educational requirements, regulations for maintaining offices, and the relationship between brokers and salespersons. It comprehensively lays out all required disclosures by real estate licensees, the Real Estate Commission's requirements on contracts of sale and leases, as well as advertising rules. The book explains prohibited activities for a real estate licensee, including applicable discipline for violating the Real Estate License Act or the Real Estate Commission's implementing regulations.
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Table of contents
Chapter 1: License Required to Provide Real Estate Brokerage Services
Chapter 2: The Relationship Between Brokers and Salespersons
Chapter 3: Agency
Chapter 4: Disclosures to Consumers
Chapter 5: The Unauthorized Practice of Law
Chapter 6: The Attorney-Review Clause
Chapter 7: Listing Agreements
Chapter 8: Broker’s Recovery of Commissions and Other Compensation
Chapter 9: Bases for Broker Liability
Chapter 10: The New Jersey Real Estate Commission
Chapter 11: Education and Licensing Requirements for Brokers, Salespersons and Salespersons Licensed With a Real Estate Referral Company
Chapter 12: Real Estate Schools
Chapter 13: Maintaining Brokerage Offices
Chapter 14: Broker’s Trust Accounts and Recordkeeping
Chapter 15: Trade Associations and Multiple Listing Services
Chapter 16: Real Estate Commission and Other Advertising Rules
Chapter 17: Commission Regulations and Other Requirements Regarding Contracts of Sale and Leases
Chapter 18: Prohibited Activities
Chapter 19: Discipline of Real Estate Licensees
Chapter 20: Disclosure of Off-Site Conditions
Chapter 21: The Real Estate Settlement Procedures Act
Chapter 22: The Fair Housing Act
Chapter 23: Lead-Based Paint Disclosures
Table of Cases
Table of Statutes and Codes
Index
